Tuesday, January 31, 2012

Making use of Online data to improve your offline business

Are you potentially missing out by not using knowledge of your online/website visitors to improve your offline marketing success? (Offline could mean printed media, trade fairs, radio, in-store etc.)

These days websites are not just the source of letting people know what their nature is or what are they about. Their mission has changed in the sense what they do, in short websites are not just for informational purpose these days. Today they are action oriented, they want people to visit themselves and let people do some conversions on them. For example, an alumni visiting eller college website and may be interested in donating or help in internships or jobs.

1. There are ways to measure the success of offline marketing campaigns using website analytics! For example, create a landing page with a memorable URL, like yoursite.com/specialoffer or yoursite.com/radio, and direct campaign ads there. Tracking visitors and their “journey” from the landing page through your site will help quantify the success of your campaign.

2. A new landing page for each type of offline activity will also help you to track numbers and conversion rates for visitors attracted via each type of advertisement or offline activity.

Using online analytics to influence offline marketing

Have you ever considered using all that information you can access about your online customers to help shape up your offline marketing efforts?

As Dr. Ram gave an example in class about Ataccama that how they got to know about her when she decided to use their data profiler tool for the last year's class or take a example where a bicycle store owner may find one of his most popular articles involves basic maintenance tasks, like changing a tire or lubricating the chain. In this case, a basic bike maintenance clinic might help draw website customers into the store.
Most analytics track where people come from and where they go when they leave your online store. Again, this information could uncover a need your store can fill. In the bicycle store example above, you may find people are leaving to visit bicycle trail maps – perhaps organizing a group ride would help draw people to your store and help them find the best local cycling routes.

Tuesday, January 24, 2012

Aspects of Google Analytics

Dr. Ram in her third lecture told us about 2 aspects of google analytics.
1. Mechanical Aspect: It relates to some things on your blog like How do I set timeline, What is it showing, different widgets present on dashboards.
She told us that KPI's were kind of metrics itself which are tightened into objectives and goals or how we gaze health by looking certain indicators whether we are reaching it or going down.

She told us about Avinash Kaushik's blog and Devi added more interest to my curiosity by telling us how Avinash uses his concepts to explain things and as I read it I came across many interesting articles which I am posting here on my blog today.

"What is the difference between a metric and a key performance indicator (KPI)?"

"What is a dimension in analytics?"
"What is segmentation?"
"Are goals metrics?"
And many more.


Goals:
Goals are specific strategies you'll leverage to accomplish your business objectives.


It goes something like this. . .
Sell more stuff really means we have to:
    1. do x
    2. improve y
    3. reduce z

    The beauty of goals is that they reflect specific strategies. They are really DUMB: Doable. Understandable. Manageable. Beneficial.. They are priorities.


    Metric:
    A metric is a number.
    That is the simplest way to think about it.
    Technically a metric can be a Count (a total) or a Ratio (a division of one number by another).
    Examples of metrics that are a Count is Visits or Pageviews.


Key Performance Indicator:
Key performance indicators (KPI's) are metrics. But not normal metrics. They are our BFF's(Best Friends forever)
A key performance indicator (KPI) is a metric that helps you understand how you are doing against your objectives.

I run www.bestbuy.com. My business objective is to sell lots of stuff. My web analytics KPI is: Average Order Size.

I run www.nytimes.com. My business objective is to make money. One of my KPI's is: Visitor Loyalty (number of visits to the site by the same person in a month) and another one is # of clicks on banner ads.


No matter how metrics rich you are. You'll be information poor. Forever. So. Don't be.

Business Objectives -> Goals -> KPI's -> Metrics -> Magic.


Dimension:
A dimension is, typically, an attribute of the Visitor to your website.


The activity a person performed such as the landing page name, the subsequent pages they saw, videos they played, searches they did on your website and the products they purchased are all dimensions.
Finally the day they visited, the days since their last visit (if returning visitor) the number of visits they made, the number of pages they saw are all dimensions as well. I know, I know, they sound like metrics. But they are, as the definition says up top, attributes of the visitor and their activity on your website.

   



2nd Aspect of GA:
Analytical Aspect: Here we ask questions..Why Peaks and Valleys? When they are happening? from Where people are coming from?..Why this is happening?

Believe me once you get over this, it would become a nice addiction..:)




Wednesday, January 18, 2012

Google Analytics for Business Intelligence

Today we started new chapter on Google Analytics. Dr Ram gave an overview about BI, Data Profiling and Cleansing, KPI's, Web Metrics, Google Analytics and last but not the least she told us about 6 W's principle:
WHAT, WHO,WHERE,WHEN,WHICH,WHY

Coming on to google analytics, I installed google analytics tracking code on my website today(Ohh I should have done it a month before, such a nice thing to track and manage your data) using the link:

http://support.google.com/googleanalytics/bin/answer.py?hl=en&answer=55488

Also I added Google Adsense, Cool Gadgets which are really useful to my users who are visiting the website like they can search amazon on a single click.

Also I am posting the video of how to install google analytics tracking code on your blogspot.




Also the below mentioned video is the crux of the blog today i.e.
Google Analytics for Business Intelligence

Monday, January 16, 2012

Lets get Started with BI

I was always curious to learn this Business Intelligence thing from my Green Field training days at Accenture. They used to call it Business Warehouse those days. I am excited and little bit filled with this eery feeling of my new journey into the beautiful world of DATA and my morning class at 8am. We had first class with Dr. Sudha Ram and she gave a brief overview of BI and Google analytic for which we would be making our team project.

Business intelligence (BI) is a broad category of applications and technologies for gathering, storing, analyzing, and providing access to data to help enterprise users make better business decisions. BI applications include the activities of decision support systems, query and reporting, online analytical processing (OLAP), statistical analysis, forecasting, and data mining.

Business intelligence applications can be:
  • Mission-critical and integral to an enterprise's operations or occasional to meet a special requirement 
  • Enterprise-wide or local to one division, department, or project 
  • Centrally initiated or driven by user demand    

        This term was used as early as September, 1996, when a Gartner Group report said:

By 2000, Information Democracy will emerge in forward-thinking enterprises, with Business Intelligence information and applications available broadly to employees, consultants, customers, suppliers, and the public. The key to thriving in a competitive marketplace is staying ahead of the competition. Making sound business decisions based on accurate and current information takes more than intuition. Data analysis, reporting, and query tools can help business users wade through a sea of data to synthesize valuable information from it - today these tools collectively fall into a category called "Business Intelligence."



Coming on to Google analytics, I read this good article which tells us about it:


Google Analytics (GA) is a free service offered by Google that generates detailed statistics about the visitors to a website. The product is targeted towards marketers rather than webmasters and technologists.
GA can track visitors from all referrers, including search engines, display advertising, pay-per-click networks, email marketing and even digital collateral such as links within PDF documents.
Integrated with AdWords, users can optimize online campaigns by tracking landing page quality and conversions. Goals might include sales, lead generation, viewing a specific page, or downloading a particular file. These can also be monetized. By using GA, marketers can determine which ads are performing, and which are not, providing the information to optimize or cull campaigns.

Link to the above reference can be found @ http://www.crunchbase.com/product/google-analytics